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Which is India's first private bank in the post-liberalization era?
AUTI Bank (now Axis Bank) — licensed 1993
BHDFC
CICICI
DKotak
Answer & Solution
Correct answer: A. UTI Bank (now Axis Bank) — licensed 1993
After 1991 reforms, private banking re-opened. UTI Bank (renamed Axis Bank in 2007) was first new generation private bank, licensed 1993. Others: HDFC Bank (1994), ICICI Bank (1994), IndusInd (1994), Kotak Mahindra (2003 — converted from NBFC).
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